• GBP/AUD eased slightly on Tuesday as investors favored riskier currencies like Australian dollar amid reduced geopolitical fears
• The truce announced by President Trump eased Middle East tensions, boosting investor confidence and lifting demand for riskier, commodity-linked currencies like the Australian dollar..
• Australia’s May weighted CPI figures pose key event risks during Asia trading hours on Wednesday , with markets closely watching for signs of inflationary pressures that could influence RBA policy expectations.
•Technical signals are bullish as RSI is at 53, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 2.1035(Higher BB), any close above will push the pair towards 2.1109 (Higher BB).
• Strong support is seen at 2.0893 (61.8% fib) and break below could take the pair towards 2.0856 (20SMA)
Recommendation: Good to buy around 2.0970, with stop loss of 2.0860 and target price of 2.1080
